Bloom Energy (NYSE:BE) Stock Price Expected to Rise, Morgan Stanley Analyst Says

Bloom Energy (NYSE:BE) had its price objective boosted by Morgan Stanley from $28.00 to $35.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The firm presently has an “overweight” rating on the stock. Morgan Stanley’s price objective would suggest a potential upside of 46.44% from the company’s previous close.

Several other research firms have also commented on BE. Roth Capital raised Bloom Energy to a “hold” rating in a research report on Tuesday, December 10th. Roth Mkm began coverage on Bloom Energy in a research note on Wednesday, December 11th. They set a “neutral” rating and a $25.00 target price for the company. BMO Capital Markets restated a “market perform” rating on shares of Bloom Energy in a research note on Friday, February 28th. UBS Group raised their target price on Bloom Energy from $21.00 to $33.00 and gave the company a “buy” rating in a research note on Tuesday, November 26th. Finally, HSBC downgraded Bloom Energy from a “buy” rating to a “hold” rating and set a $24.50 target price for the company. in a research note on Wednesday, November 20th. One analyst has rated the stock with a sell rating, eleven have issued a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $25.06.

Bloom Energy Trading Down 5.9 %

NYSE:BE opened at $23.90 on Thursday. The business’s 50-day moving average is $24.10 and its two-hundred day moving average is $19.30. The company has a debt-to-equity ratio of 3.09, a current ratio of 3.36 and a quick ratio of 2.33. Bloom Energy has a 12 month low of $9.02 and a 12 month high of $29.83. The firm has a market capitalization of $5.51 billion, a PE ratio of -42.68 and a beta of 3.30.

Insiders Place Their Bets

In other Bloom Energy news, insider Shawn Marie Soderberg sold 1,639 shares of the firm’s stock in a transaction dated Thursday, January 16th. The shares were sold at an average price of $23.42, for a total value of $38,385.38. Following the transaction, the insider now owns 171,040 shares of the company’s stock, valued at $4,005,756.80. This trade represents a 0.95 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Satish Chitoori sold 1,020 shares of the firm’s stock in a transaction dated Monday, March 17th. The stock was sold at an average price of $25.09, for a total transaction of $25,591.80. Following the completion of the transaction, the insider now directly owns 178,656 shares in the company, valued at $4,482,479.04. This represents a 0.57 % decrease in their position. The disclosure for this sale can be found here. 8.81% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Bloom Energy

A number of hedge funds have recently made changes to their positions in BE. GSA Capital Partners LLP bought a new stake in shares of Bloom Energy during the third quarter valued at approximately $268,000. Quest Partners LLC raised its holdings in shares of Bloom Energy by 493.2% during the third quarter. Quest Partners LLC now owns 21,356 shares of the company’s stock valued at $226,000 after buying an additional 17,756 shares during the last quarter. Advisors Asset Management Inc. raised its holdings in shares of Bloom Energy by 45.7% during the third quarter. Advisors Asset Management Inc. now owns 54,140 shares of the company’s stock valued at $572,000 after buying an additional 16,993 shares during the last quarter. Intech Investment Management LLC bought a new stake in shares of Bloom Energy during the third quarter valued at approximately $600,000. Finally, Landscape Capital Management L.L.C. bought a new stake in shares of Bloom Energy during the third quarter valued at approximately $698,000. Institutional investors own 77.04% of the company’s stock.

About Bloom Energy

Bloom Energy Corporation designs, manufactures, sells, and installs solid-oxide fuel cell systems for on-site power generation in the United States and internationally. The company offers Bloom Energy Server, a solid oxide technology that converts fuel, such as natural gas, biogas, hydrogen, or a blend of these fuels into electricity through an electrochemical process without combustion.